 The ports of the settlement were to be free to French ships for a term of 15 years.One-fourth of all the lands acquired were to be reserved to the Crown for the building of ports, hospitals and shipyards.The functions of the company as finally announced on 5 February 1840, were to buy land in New Zealand, to colonise the lands already bought in 1838 by Langlois, and to engage in the whale fishery.